2012-12-01
2012-12-31
x michigan
x john

STATION
CSPAN 6
CNBC 3
CNNW 3
CSPAN2 3
FBC 2
KQED (PBS) 2
KQEH (KQED Plus) 1
LANGUAGE
English 25

Set Clip Length:


think the world will look like. it's fascinating. it shows china on the rise, the west in decline and china overtaking the united states in size of economy by the year 2030. here are the key findings of the new intel report. it's interesting reading. a majority of the world's population by 2030 will be out of poverty for the first time in world history. there will be wars over food and water and natural resores. populations will continue to rise and there will be recurring global economic crises but when you think about this, you think about how far we're going here. you've got asia, china in particular will be dominant. it will be stronger than its been anytime since middleages. there will be no more pax americana as its known. china will be a big driver and india will be growing like china is today. they talk about how the world is changing. it's like no other time since the french revolution. remember in the late 18th century, the industrial revolution, except it's happening more quickly. it's taking a tenth of the time for china and asia to rise quickly. let me read to you som

for the group. he was promoted second-in-command earlier this year. >>> back to the economy now, china apparently going on an american spending spree. a chinese company agreed to buy a big chunk of insurance giant aig for more than $4 billion after the company got a huge bailout during the u.s. financial crisis. that is not the only bargain that china is picking up from u.s. taxpayers lately. stuart varney on this morning, head of "varney & company" on fox business network. good morning, stuart. good to see you. >> good morning, martha. martha: they're gobbling up our assets in many ways . what do you make of it. >> they are spending the money they have got buying american assets cheap. you mentioned aig. a chinese company is paying $4 billion for aig's plane leasing business. aig remember got $189 billion as a bailout fund that was back in september of 2008. the taxpayers still are the largest shareholder in aig. we sold the plane leasing business to china cheap. second item, a 123 batteries, americans taxpayers gave that company $249 million in grants and another 250 million in tax s

about china electric demand being strong. remember, they make coal machinery, depending upon how much electric demand there is in china, his orders go up. that's why i think people are surprised the stock eel not down big, given his concerns throughout the near term. >> comments, the buybacks continue. >> now, i begin to say, wait a second. one buyback, maybe -- too much coincidence here. you have the news out of joint global. i think people are starting to say this fourth quarter's an inflection point for china. less worried about inflation, more worried about pro-growth. cummins is a uniquely chinese story. so many truck engines go there. let's keep track of this. >> a lot of people say if you've got gdp growing again and inflation as low as it is, that is the sweet spot, that is where you always want to be. >> india came out with global stuff. coal, i know, we're only used to seeing coal phased out in this country. they love coal in china. i don't want to make a judgment on whether that's -- but they are huge coal plant builders there. huge. >> an important one to watch. we'll talk

to be real focused. look at equities with a little bit of a china exposure because china is starting to bottom a little bit, we think, so that's where i would focus. the number one thing and the greatest clarity i have in 26 years in this business, stay away from interest rate sensitive bonds and stay away from bond funds, and that's what you need to be doing right this moment. >> so you go on equities then, all in in equities then? >> let me tell you, if you're going to be an investor for longer than two years, stay away. if you need fixed income, run away from interest rate sensitive bonds. >> what about the fiscal cliff, you think we get a deal by the end of next week? we going to get a deal? >> i don't see a long-term deal. >> it's pretty easy to come to that conclusion, brian, given the fact that they have had 13 months to discuss this and think about it and now we're down to 18 days to deal with medicare, medicaid and defense spending, what, social security, taxes. what else can we throw into the bucket? >> yeah. you can just throwing more and more in. i think it's clear that t

rate in china, and in a few years it will surpass the u.s. what it means, coming up. >>> dozens of homes damaged in the south, ripping off roofs and damaging trees. more to come. stamp watch, straight ahead. >>> lots to talk about this morning. the next two hours, we'll talk with steve israel. jeff sessions, sandy levin, rahm emanuel and businessman javier paolomarez, ed burns, frankie monday easy, and chuck leavell. "starting point" begins right now. welcome, everybody. "starting point" this morning, angry, united. bracing for protests in michigan as the state is poised to become the most unionized right to work state. as many as 10,000 unionized workers expected at the state capitol to voice their disapproval of the measure. some of them teachers, two detroit area school districts shut down for the day as hundreds of teachers plan to join the protest. president obama brought it up during a trip to a daimler truck factory in redford, michigan. this is what he said. >> this so-called right to work law, they don't have to do with economics, everything to do with politics. what th

production in china and the united states. a barrel of oil now just under $87. eighteen days from the fiscal cliff. the president looking back, addressing claims that he wants to create a socialist system in this country. the president saying if he had been president 25 years ago, there would be a shockingly different view of him and his politics. >> the truth of the matter is that my policies are so mainstream that if i had said the same policies, i have had been considered a moderate republican back then. lou: i don't know whether he believes that or not. it is great have a team with us. >> i'm not sure he could have gotten elected 25 years ago as a kid. obviously, he was pretty social step backward in time. lou: he says he has outgrown all that. >> by the definition of what you are, he is pretty left-sided as far as i'm concerned the. lou: the idea that the president came back in the so-called negotiations. it is either a farce of this process or whatever you want to call it -- but telling speaker boehner that all he really wants your is $1.6 trillion in tax breaks, and oh, yeah, he will

your report opens up. a tragic tale of a legal immigrant to this country from china, she was brutally attacked by an illegal immigrant from china, and after chen served his prison term, china refused to take him back. what happened? >> immigration officials in texas let him out more than once, and no point did they ever warn ms. wu this is a wider issue in the immigrant question. that's secrecy. they don't tell the public very much unlike the criminal system who they arrest, who they detain, and what happens to them in the case of ms. wu, she thought the man who brutally attacked her was in china and one day, three years later, he walks through her door and shortly after that kills her. >> why is this happening? why do we have no dodknowledge it? >> the immigration system says they are a civil immigration agency, they detain people they treat like criminals whether they have a record or not and they said that they believe that this is a private matter, that they need to protect the immigrants's privacy. so when we request the name of criminals, they said that the public interest in th

] >> stephanie: for jeep moving they plant to china. >> what does this world come to for lie of the year? is the claim by the romney campaign that jeep was going to move its production to china at the cost of american jobs. >> the 2012 lie of the year -- ♪ guess what the truth is ♪ ♪ this can't speak anymore ♪ >> the most outlandish -- ♪ liar liar pants on fire ♪ >> stephanie: liar! ♪ liar ♪ >> untrue statement of the entire year in politics. ♪ born born to be a liar born to be a liar he was born ♪ >> stephanie: he was born that way. thank you rocky mountain mike. all right. so you have -- tina dupuy has the -- the 2012 naughty or nice list. >> that's right. editor and chief of thecontributor.com. >> stephanie: i was get doing that. good morning, tina. >> good morning, stephanie. >> stephanie: would you like some festive christmas music for your list? [ laughter ] >> my favorite. >> stephanie: i love -- first starting on the naught david petraeus for choosing a mistress who clearly cannot keep a secret. >> seriously. this is just a sex thing. we're obs

about where china is going to go. the troubling thing about the departure from the labor force of so many people that is offsetting the increment is jobs is that over time, it seems like the percentage of the society that is active in the labor force is stagnant or shrinking. that kicks back to all the problems she is talking about, the entitlement program and so forth, which depend on the active population to support them. >> john: jump to the fiscal cliff. not just to it. charles, i read your column today and you made an interesting point that a lot of people didn't make that you see this is a political move by president obama to fracture the g.o.p. majority of the house, gain himself supreme power. >> well, that is because it's clear that the economic proposals, fiscal proposals won't do anything about debt. it's clear that his pretense that we are going to have to, that you can't get to the tax hikes he wants through rising, through raising the rates, without raising rates, he contradicts himself. he said exactly the opposite. so all of this is about the politics of it. he thinks

stateseturning home to china. lou: democrats to feed the stamp act, science, technology, engineering, and mathematics. immigrts into this country who deserve it and to we desperately want to have your while we throw open our borders and our airports to people who are, for the most part, the majority of those illegal immigrants are not even high-school educated, lacks skills, like education. my god. d they do so rejecting that law, that bill and prevent it from becoming law because they want to have a lottery. for crying out loud. the absurdities compound themselves. >> in general we have to recognize that the individual entrepreneur with special skills and contributions to american produce all the jobs, and they are the ones who are getting rich, who are punished by any increase in marginal t rates. the already rich -- lou: whatabout the young man or woman in this country who is not an entrepreneur, is not a bg shot, is not in middle management in a big corporation. they won a break. they won an opportunity. they want to live the american dream. why can't the republicans talk to them

are not as bad with fiscal cliff. china not as bad as we though, u.s. very strong. so nike, if it goes back to 97, it means we're going to have a real bad couple of days in my view. look at red hat. red hat is a technology company that is deeply involved in the cloud. they, too, had a better than expected number, as did oracle in the cloud. so these are my two tales for the trading today, david. if you pick the best of the best and they go down, you'll really have a couple of -- >> when it comes to the so-called cloud play and the use of it in the competition here, is that one of the key names? >> yes, it allows you to manage cloud in a cheap -- an anti-microsoft business. their partner is sales force.com. i'm really using these as tells. in other words, these are the ones where there's natural buyers. as we just found out how good things are. it wasn't like we found out a month ago. we just found out last night. if they have resilience, the market is going to be more resilient than people think. if they give up the ghost, i think next week's going to be difficult, too. >> all right. we'll be wat

, the world's second largest apparel exporter after china. it's growing very fast largely because it has the lowest minimum wage of any country that's really exporting apparel to any sizable degree. $37 a month is the minimum wage there. >> sreenivasan: you also pointed to over the weekend a more devastating fire in pakistan. it's kind of started to lead to this maze of contractors and subcontractors. that seems to be standard operating business where an american company could be well intentioned but ultimately they don't know who is actually producing what's on the ground. >> i've written several articles on these fires with my colleagues. we found that time after time the retailers, the subcontractors, they're all asserting we didn't know about it. we didn't know that subcontractors of the subcontractors we're using at these plants. they say you can't blame us. i think many people call that plausible deniability. a lot of labor rights groups are saying retailers, subcontractors, you have to step up to the plate. you have to make sure that these fability er toes are safe. you can't blam

it is as far from that as i am from china right now. host: the president yesterday spoke about the debt ceiling and is tied to the fiscal cliff negotiations. [video clip] >> i have to tell you that is a bad strategy for america, a bad strategy for our businesses, and it is not a game that i will play. most of you were involved in discussions and watched the catastrophe that happened in august of 2011. everybody here is concerned about uncertainty. there is no uncertainty like the prospect that the largest economy that holds the world's reserve currency potentially defaults on its debts, that we give out the basic notion that the united states stands behind its obligations. we cannot afford -- host: whil"the wall street journal." guest: the president does not want to negotiate with the republicans on the debt ceiling. that is like giving a son or daughter a credit card to do with it as they want freely. i think the president has to admit that both sides have tried to break measures and legislations to the table that would reduce the debt ceiling. the president -- look at how the deficit has quad

/11 and in syria and china with the 22 children who were disfigured and cut within less than a week. and then in syria, the 47 people that have been killed by snipers and the thousands that have been killed that our children and women. you can see them on youtube right now. i want to understand why you diminished someones comment with the purpose. rather than being critical, the reality is a horrible situation that happened. i do not defend anything that happened at the school, but the individual data has a $100 shotgun or less -- and individual with a $100 shotgun or less, the situation would have been worse. in 1994 when you lost the assault weapons ban, you also lost the house for tenure. i will stop -- for 10 years. i will invite the listeners to look at the china situation a week ago where years and figures were cut off. guest: as you know, we do live in a society where we do feel protected and represented in government i think that is something that is diminished and there is a sense of government for us. and but we do have a representative democracy and it is something that w

is broke. china owns us and we are sending our young men and our money to afghanistan and we're going to cut programs right here in america for the american people. . the american people need to put the pressure on congress to bring our troops home now and not wait until december of 2014. mr. speaker, i assure you if we start bringing them home in december of 2014, it will become 2015 and it will become 2016 and how many more families have to cry about their loved ones being killed in a war that has no end to it? mr. speaker, today i would like to submit for the record, i will ask unanimous consent the names of 28 american service members who have been killed in the last few weeks. thank you, mr. speaker. mr. speaker, again i ask the people to look at this poster and realize that this war is costing us in so many, many ways. the most important our young men and women who are dying. if you agree with me that we need to bring our troops home before the current december 2014 deadline, please go to www.bringthemhome201.com, and sign the petition. mr. speaker, i have been to walter reed an

has two two -- [inaudible] where do syria people expect to go -- china, russia, support the assad's regime? >> we noted the opposition made gains, the assad continues to lose control over syria. it is no mystery that we were disappointed in the failure of the security council because of a lack of agreement by some members to take actionings through -- actions through the council with assad and work with our international partners to pressure assad and assist the people of syria and the opposition, that that work continues. >> represent china? >> i think i addressed that question. >> thank you, sir. >> john? >> thank you. the world's financial community is watching this fiscal cliff process closely with concern. the parties fail to reach a deal before jan -- january 1, what assurances do you have that america will not default on its debt? >> well, we addressed the issue of the debt ceiling, and the president's firm belief it is unconceivable that -- and unacceptable that leader in congress want to engage in brinksmanship witnessed in 20 # 11 on the issue of making sure the united s

. host: the stories are "the in- sourcing boom" and "mr. china comes to america. both can be found at theatlantic.com. thanks for joining us. we will take you live to the house floor. [captioning performed by national captioning institute] [captions copyright national cable satellite corp. 2012] the speaker pro tempore: the house will be in order. the chair lays before the house a communication from the speaker. the clerk: the speaker's room, washington, d.c., december 19, 2012. i hereby appoint the honorable daniel webster to act as speaker pro tempore on this day. signed, john a. boehner, speaker of the house of representatives. the speaker pro tempore: the chair will receive a message. the messenger: mr. speaker, a message from the senate. the secretary: mr. speaker. the speaker pro tempore: madam secretary. the secretary: i have been directed by the senate to inform the house that the senate has agreed to s. res. 624, relative to the death of the honorable daniel k. inouye, senator from the state of ohio. -- hawaii. the speaker pro tempore: pursuant to the order of the house of

with the challenges in europe, with china going through a transition, with india's political system, as chair of the india caucus, almost more this functional than ours. we look pretty darn good if we can put a real plan in place. >> what would be the size of the plan? >> i think it gets north of $4 trillion, whether it gets to $6 trillion. this goes back to where you start. two points -- kind of on the opening round questions. it is important to remember that the simpson-bowles plan, which has gained a lot of attention, or the gang of six, which is built off the simpson- bowles, the presumptions that went into those plans assumed that all the top rates would go back up. when you start from that, even though i think simpson-bowles's idea that he would bring the rates down to the high 20's is a bit of a stretch. i do not think we will see that kind of across the board almost zeroing out in some places of tax expenditures that would require. they can show a path towards meaningful tax reform even with the rates at the higher level. point two, and this is one of the things where i think those of

then move u.s. jeep production to china. chrysler denied the claim. the media said it was untrue. the public was outraged. the romney campaign spread it anyway. we're back after the alright, in 15 minutes we're going to do the young turks. i think the number one thing that viewers like about the young turks is that we're honest. they know that i'm not bs'ing them with some hidden agenda, actually supporting one party or the other. when the democrats are wrong, they know that i'm going to be the first one to call them out. they can question whether i'm right, but i think that the audience gets that this guy, to the best of his ability, is trying to look out for us. [ male announcer ] red lobster's hitting the streets to tell real people about our new 15 under $15 menu. oh my goodness! oh my gosh this looks amazing! [ male announcer ] our new maine stays! 15 entrees under $15 seafood, chicken and more! oo! the tilapia with roasted vegetables! i'm actually looking at the wood grilled chicken with portobello wine sauce. that pork chop was great! no

three behind canada and china, about $460 billion a year. so lot of levers we can use here. of that $460 billion, a huge amount is tourism. is it really worth them sort of gaining this venal corrupt image with this violence. do they want o pay the millions and millions, possibly hundreds of millions in lost tourism just so they can do whatever it is that the corrupt local government is doing to this? >> steve: one of the things is this guy is being charged with is he brought into the country of mexico a gun used by the military, ammunition used by the military as well. you know what? that is flat out not true. this is a case that is so easy to dismiss and yet, we're five days away from christmas and that guy is sitting down there. >> brian: it takes some high ranking person in the state department to pick up the phone and say, get him out of there. >> steve: how about the president? they've got cable in the white house. they're watching fox news channel. that would be great for that family if he -- >> brian: even they get satellite dish. even if it's direct tv, they probably still get us

met him when he worked with haley bailey 18 years ago in china. he was a great divan. he's a great guy now. i hope you're good to meet him. it hadn't been for him, we wouldn't be here tonight. so, and jackie, wherever she is. they are. without her the invitation list would have been a mess. i have no alan simpson for just over 40 years. i heard of the story sophisticated than i try to do them myself. and he helped me out of that hole. i worked 18 years. as press secretary in chief chief of staff responsible for all mistakes. [laughter] wayne al went to retire and went to harvard, i went to the smithsonian and was in charge of government for a wild man. my wonderful wife, rebecca who is right here. i'm telling you i could not have done this book without you. she did with research and out of me being up at 4:00 in the morning and she is amazing. so we went overseas and did a bunch of work with charities and children and blind people and lepers and came back and ended up on a sailboat in one day in 2005, the phone connected for some reason to some island power in your brain and it was all

the work with glen bailey and holly page. i met him 18 years ago in china. a great guy then to migrate dynel. if it hadn't been for him we would not be here tonight. so jackie, wherever she is. no, there. without heard the invitation list would have been a mess. i have known allen and simpson for just over 50 years. i grew up in wyoming. i heard all the stories and i was a kid and then i tried to do them myself. he helped me out of that. i worked 18 years. press secretary in the chief of staff, responsible for all mistakes. [laughter] when he went to retire and went harvard, i went to the smithsonian and those in charge of government. my wonderful wife, rebecca, who was right here, i'm telling you, i could not have been without her. she researched and put up the media before:00 in the morning and is amazing. so we were tired, when overseas and did a bunch of work for charities and children and blind people on the purse and came back and ended up on a sailboat. one day in 2005 the phone connected to some island to our. it rained. it was al simpson. he said, these guys want to write the

going to compete with china with 1.3 billion people? the answer is we can have the entire world at our disposal by creating conditions that the best people in the wormed can come to the united states and study. >> and stay and start businesses. >> two, then we have to focus on faction, particularly the corporate tax reform, to get a system which is simpler and promotes efficiency and makes it easier for businesses to compete if the world. third, then we have to -- that will create -- that will be enormous. third, then there is a infrastructure investment that needs to be made. this is very important because in the context of the kiped of budget deal we'll get where we'll spend less going forward as businesses, we have to think about what our values are with respect to what we'll spend money on. the most important things we can spend money on is infrastructure to again create -- make investments in the future rather than just short-term spending. and then twin that with important support for research, basic research, and for higher education as drew talked about. and for education. thos

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